Brianna bought her car for $15,640. It is expected to depreciate an average of 15% each year during the first 7 years. What will the approximate value of her car be in 7 years?

A. $4898

B. $5014

C. $5108

D. $5146

This problem is modeled by the exponential growth/decay function which has the form:

F=Ir^t, F=final value, I=initial value, r=rate of change, t=time, in this case:

F=15640 (1-.15) ^t

F (t) = 15640 (0.85) ^t so

F (7) = $5013.83 (to nearest cent)

They rounded to nearest dollar

$5014